Germany's Delivery Hero Q2 revenue rises 17.7%, lifts 2026 outlook

Delivery Hero SE

27/08/2026 06:39

Overview
German delivery platform's Q2 2026 revenue grew 17.7% yr/yr
Adjusted EBITDA for H1 2026 rose 3.9% yr/yr and was ahead of expectations
Company raised full-year 2026 guidance across all key metrics

Outlook
Delivery Hero raises 2026 GMV growth outlook to 9–11% YoY (LfL) from 8–10%
Company now sees 2026 revenue growth at 17–19% YoY (LfL), up from 14–16%
Delivery Hero expects 2026 adj. EBITDA of €960–1,000 mln, up from €910–960 mln

Result Drivers
EVERYDAY APP STRATEGY - Co said its Everyday App strategy drove order records and accelerated GMV growth
QUICK COMMERCE EXPANSION - Quick Commerce GMV grew 32% yr/yr on LfL basis, with Dmart orders up 39% yr/yr and orders per store up 28% yr/yr
SUBSCRIPTION AND ADTECH MOMENTUM - Increased subscription adoption and strong AdTech business supported revenue growth

Company press release: ID:nEQ3S9qYZa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
EUR 4.02 bln
EUR 3.90 bln (1 Analyst)
Q2 GMV
 
EUR 13.21 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
Wall Street's median 12-month price target for Delivery Hero SE is €41.50, about 12.3% above its August 26 closing price of €36.95

Reuters Recommended Reads
Aug 25 - Germany's net digital prelim H1 revenue more than doubles, results beat expectations
Aug 25 - M&S rolls out Zalando fulfilment deal in 22 European markets
Aug 24 - Chinese ad-tech firm Mobvista's H1 revenue rises on Mintegral platform strength

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)